In an attempt to become self reliant, the Indian Institute of Management-Ahmedabad has tied up with Indian Oil Corporation to introduce an industry specific full-time residential course to increase awareness among executives, in the emerging energy sector.
This course is the first of its kind being held by any of the Indian Institutes of Management.
While this one year Executive Post-Graduate Programme in Management (Energy) (PGMP -Energy) is being billled as an attempt by the institute to offer courses addressing various issues facing the industry, the programme will undoubtedly help IIM-A to raise revenue and thus, run its show on its own without seeking funds from the government.
Students seeking admission to the course will have to pay a fee of around Rs 600,000 and the revenue would be shared between IOC and IIM-A.
"The revenue sharing pattern between the two organisations is being worked out," according to a source close to the institute.
IIM-A is also planning to setup a Centre for Management in Health Services which will be devoted mainly to research while three other executive programme courses are also being designed for this year so as to contribute towards the institute's attempt at becoming self sufficient even if a change of guards at the Centre occurs after the term of the new government. Fees for the new courses in Health Services are yet to be worked out.
"We do not want to be a burden on the government and we are not looking for funds from them to run our institute as in IIM-A we strongly believe that the need of the hour is primary education and there should be adequate funds to spread primary education among children. While the financial condition of the Institute is sound, we are trying to raise resources from other sources and may not opt for funds from the Government not only for the current fiscal year but also for the next few years as well," said N R Narayana Murthy, Infosys Chief and Chairman of the IIM-A board.
While advocating that the government has been "very cooperative" towards protection of the interest of the IIMs and the Indian Institutes of Technology (IITs), the Infosys chief also said that institutes of higher learning may not run on subsidies for long.
